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How do you do value based pricing? What is value based pricing? How do you deal with a client that has a low budget? How can you get them to raise their budget? Sarah plays the role of a price-based buyer while Chris tries to price the client not the job. He practices retreating and helps her to understand what is at stake if she were to fail.
[Intro]
00:00 Just get me in a room with a live client. A live client, meaning: They have a real problem they need to solve, and they have real money, and they’re gonna pick somebody, and I will close a good percentage of those jobs.
0:28 THE CLIENT JUST DROPPED A 2,000 POUND “ANCHOR.”
IGNORE THAT ANCHOR.
0:35 Here’s the thing: I think I know what you want. I’m just not sure I’m not the guy to do it for you.
0:51 DON’T WANT THE JOB.
0:56 INSTEAD, GENUINELY WANT TO HELP YOUR CLIENT.
There’s this girl I know in Edinborough that could probably do it for a lot less, however, I’m just conflicted ‘cause I don’t know how to do that for that budget. Usually we start somewhere between fifty to twenty thousand dollars (or pounds)…
1:10 DROP YOUR OWN “ANCHOR.”
1:22 Maybe there’s more budget somewhere else if you wanna work with me, otherwise I just can’t take it on. What do you think?
1:32 It sounds like you probably don’t need me. I’m sure if you call a few people, you can find somebody else to do it for you. It’s just not gonna be me. Sadly. But if you should talk to other people and you don’t like what they do, feel free to give me a ring. The price is still the same, but then I can help you.
2:01 What’s motivating this conversation today? What are you trying to get done?
2:06 DIG DEEPER. DIAGNOSE THE PROBLEM.
2:06 LBC: We’re not getting high enough sales, um, we’re not reaching the, um, quite the right target, um, we want to sort of fit in with a younger, “millennial” vibe.
2:19 Here’s what I heard you say: You’re not getting enough sales, you’re not (um) connecting with the right audience. Those are big problems to solve. Like, if you don’t fix this problem, what’s it gonna cost you?
3:27 So if you could buy an insurance policy to stop this from happening, how much percentage would you spend?
3:49 GET THEM TO SAY WHAT IT’S WORTH.
3:51 Thirty percent sounds very generous. Now, I don’t think we need to spend that much because 30% of a million dollars. Here’s the great news: I can help you for a lot less than that. If you should decide that we’re a good fit, we can get into contracts, and then we can figure out schedules and all that kind of stuff. So not only are we gonna fix the problem, but we’re gonna plug the hole in the boat, we’re gonna actually grow and expand the business. This is what I help my clients do.
4:44 BECOME THEIR FIDUCIARY. BE ON THEIR SIDE.
4:57 DO MORE THAN SOLVE VISUAL PROBLEMS, SOLVE BUSINESS PROBLEMS.
5:40 I’m on your side, I’m neutral, I care about you, and I match your energy, and I flirt with you a little bit. I mean, if I can, if I can make you laugh and teach you something, I’m, I’m gonna win.
—
7 Strategies For Wealth and Happiness
by Jim Rohn
https://amzn.to/2q9Itsv
Pricing Creativity
by Blair Enns
https://www.winwithoutpitching.com/pricingcreativity/
Chris met up with fans of The Futur, in Edinburgh. Here they roleplayed this scenario: Chris, offering his creative services to a “low-budget” client.
Learn Chris’ approach when meeting with potential clients.
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Futur Podcast on iTunes: 🎙
https://itunes.apple.com/us/podcast/the-futur/id1209219220?mt=2
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Credits:
Executive Producer– Chris Do
Host– Chris Do
Director– Aaron Szekely
Cinematography– Aaron Szekely, Mark Contreras
Editor– Aaron Szekely
Futur Theme Music – Adam Sanborne http://www.adamsanborne.com
Annotations– Melissa Katherine
Typefaces: Futura, Din, Helvetica Neue
Futur theme song— Adam Sanborne
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